RE:RE:RE:Very Good Additional Drill ResultsMiningDude wrote: Three things to watch for, 1) how deep is the top of the mineralization, more than 1,320 ft. it seems,<br /> 2) at this grade what is the best method to mine, Open pit. To lay back a pit 1,300 ft deep would put you off the property, hmmmm, 3) is the mineralization oxide or sulphide, the news release doesn't say, so all of the other intercepts around it are sulphide and refractory, so we can safely assume the new intercept is sulphide (refractory)..... So how tremendous are these results??? the market will tell us. The stock has traded 800 shares almost two hours after the market opened and not moved an inch on the news!!!!
Welcome to the board Dude! A differing opinion is always valuable.
Assuming this new deposit is sulphide gold it would be mined using underground techniques, mind you this wide width economical grade mineralization is directly adjacent to a mainly oxide resource that holds close to 2M ounces and is by no means directly on the property boundary. The geology and dry conditions in the area allow for very steep pit walls like what was used on the original Motherload pit. The most recent KOR PEA already includes and LOX plant to process sulphides so such mineralization could bolster the upcoming PEA whether it is mined via underground or open pit.
Coeur was able to sell their shares open market well before Corvus peaked near 3.25$. Their selling price for the huge block was very near where the stock is hovering now...close to 2$ The market absorbed these shares then went on to make All Time highs for Corvus. Coeur decided to take their double and invest in an affordable property with a sulphide based resource in the immediate area where Corvus was racking up shallow high grade pitable oxide ounces.
Corvus has been expanding their Motherload Pit by 1M ounces and is now discovering gold beyond their existing resource. It is very tightly held with a tiny float to trade. Surely there are better options to short especially with multiple catalysts at present and upcoming. At times Corvus would move a couple days after press release but we have been slogging of late. That said it's easy to see a low risk shot at hitting a double from here and with continued understanding in this emerging district a 5 bagger isn't out of the question for a long term holder.